Sui's recent gains have been strong, and its total DeFi lock-up value has soared 72% from US$601 million in the past month. The author has now broken through the US$1 billion mark, temporarily surpassing competitors such as Avalanche and Polygon, ranking 7th Big public chain. This breakthrough has also increased the topic of Sui. Recently, there have been frequent comparison discussions between Sui and the high-performance Monolithic Layer1 public chain hegemon Solana in the community, and even Bitcoin ETF issuer Grayscale is no exception.
Source: DefiLlamaSui Total locked-up value exceeds US$1 billion
Huidu discusses Sui technology development with Mysten Labs
Grayscale officials yesterday released an interview with Rayhaneh Sharif-Askary, head of product and research, and Adeniyi Abiodun, co-founder of Mysten Labs. The theme was to discuss the development of Sui technology. It is mentioned that Sui is expected to push Web3 adoption to a new level through its innovative underlying architecture and efficient transaction processing.
Image source: Interview with X/@Grayscale Grayscale and Mysten Labs
Developer Friendly: Object Mode and PTB
The data storage method of the Sui blockchain uses the "Object Model" pioneered by Mysten Labs; unlike most public chains that use the Account Model, Sui maximizes the use of smart contract applications in terms of infrastructure. Security. Specifically, the asset transfer performed by the Sui blockchain is not only a change in the account value, the interactive object (usually a smart contract) must also obtain the authorization of the object ownership (Ownership) to complete the transaction; in this way , Sui can maximize asset security, allowing development efforts to focus on the functionality of the application.
In addition, Sui also allows developers to package several different smart contract interactions into a single transaction - Programmable Transaction Blocks (PTB). Each PTB abides by the atomic global processing principle, that is, the all-or-nothing rate. A successful transaction is equivalent to the confirmation of all transactions in the entire package of PTB; otherwise, as long as one of the transactions fails, all data will be rolled back. Simply put, PTB allows developers to connect smart contracts of different protocols and focus on one-time interactions.
User-Friendliness: Domain Names and zkLogin
The domain name protocol can map complex account addresses to short IDs and is one of the necessary infrastructures for mature public chains; Sui is also committed to the domain name function, allowing users to transfer funds conveniently.
What’s even more special is that Sui also supports mnemonic wallets with Zero-Knowledge Proof technology; through its unique zkLogin mechanism, users will not need to keep private keys or mnemonic words, and can simply disclose their passwords. Create and restore blockchain accounts via social accounts such as Google, Facebook or Twitch. This move provides a familiar login channel for Web2 users and is expected to promote the large-scale adoption of Web3.
Faster confirmation rates and higher throughput
The most well-known advantage of Sui is its ultra-high throughput and transaction confirmation speed. The confirmation time of each transaction is only 700 milliseconds, which is far better than the 12.8 seconds of its top competitor Solana.
During the inscription craze last year, many public chains experienced network congestion due to inscription casting, which in turn caused transaction fees to soar. According to Artemis Terminal, Sui also hit a single-day peak of 13.8 million transactions on December 22 last year.
Source: Artemis TerminalSui’s total number of transfers on 12/22 last year
It is worth noting that Sui’s total fee on that day was still the lowest among mainstream public chains at US$12,700, with an average fee per transaction of less than US$0.001. The data shows that even under high load pressure, Sui can still maintain stable and low-cost processing performance, further demonstrating its strong competitiveness as a high-performance public chain.
Source: Artemis TerminalSui’s total transaction fees on 12/22 last year
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
